The Treasury Department's General Counsel Brian Morrissey resigned his post as controversy grew over a Department of Justice settlement creating a fund to compensate for alleged victims of prosecution by the Biden administration.
At some banks, executives are overpromising results and putting tremendous pressure on tech teams, leading to a range of problems.
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Whether red or blue, leaders share an affinity for battling fintech giants, as the liberal mayor is pressuring regulators to scuttle Western Union's plan to buy digital transfer Intermex, shortly following PayPal's 'DEI settlement' with the Trump administration.
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Prashant Sharma, JPMorgan Payments' executive director of biometrics and identity solutions, spoke with American Banker about agentic commerce and how liability is shifting as a result of large language models.
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New Federal Reserve stats show most consumers carry and store paper money, even as digital payments become mainstream.
Unlike several other large banks, neither Citi nor Citizens Financial Group is interested in expanding their retail branch presence beyond their existing footprints. Both say they see plenty of growth opportunities in those markets.
A White House official said that the president will swear in Kevin Warsh, who was confirmed as the next chair of the Federal Reserve last week, in a ceremony Friday. Fed Chair Jerome Powell will serve as chair pro tempore until that time.
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New bank capital rules have changed the calculus for many banks in the U.S., eliminating many of the barriers that prevented midsize institutions from growing. The result will likely be a rapid spike in mergers.
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Crypto firms are becoming the kinds of trusted third parties bitcoin was created to get around, raising the question of what digital currencies are even for.
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In a perfect world, statutory certainty about the treatment of digital assets would be preferable to regulatory guidance. However, banks that put off their crypto plans while waiting for Congress to act risk falling behind their more aggressive competitors.
Parker Group unexpectedly ceased operating last week, then filed for Chapter 7 bankruptcy a few days later as sponsor banks and customers were left scrambling.
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NASAA's proposal would align state laws with the SEC's marketing rule, eliminating concerns advisors have about running afoul of more local laws as they accept testimonials and reviews.
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Marketing experts say that advisory practices trying to grow organically must be thoughtful about the button that offers website visitors a meeting — or they could lose the prospect altogether.
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Stephan Feldgoise and Joshua Schiffrin will join Goldman Sachs' management committee; Fidelity Investments is dismissing about 800 personnel as it restructures its technology and product-delivery teams; Citi has hired JPMorgan's André Ross as its country officer and banking head for South Africa; and more in this week's banking news roundup.
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The Mortgage Bankers Association now predicts a Federal Reserve rate hike to arrive in 2027, as housing price growth also slows over the next two years.
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Foreclosure filings were reported on 42,430 properties in the United States last month, down 8% from the month prior but up 18% from a year ago.
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The Federal Housing Administration put an end to pandemic-era relief last year, triggering a 28% jump in foreclosures on FHA loans in the first quarter and an expected spike in defaults ahead.
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Suncoast Credit Union moved from one-time identity checks to monitoring members for the life of the account. It says fraud losses fell more than a third.
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As short-term liquidity products gain popularity with consumers, credit unions are looking for new ways to keep their members from looking elsewhere.
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Columbia caught the attacker still inside its systems on Dec. 19, three days before the access window closed, then took four months to notify customers.
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The neobank put its multi-use card in the hands of even more consumers in the first quarter, reaching 5 million users. That has resulted in increased membership fees and average revenue per consumer compared with non-card-wielding customers.
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Senate Banking Committee Chairman Tim Scott, R-S.C., flatly denied multiple pleas from Democrats to consider their amendment to a crypto market structure bill being marked up in the committee Thursday that would make banking industry-favored changes to the yield provision. The committee passed the measure in a 15 to 9 vote.
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Call for submissions for women 40 years and younger who are rising leaders at their bank or financial institution.
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American Banker is accepting applications for the Best Banks to Work For program. The annual ranking, which is now in its 14th year, is a showcase of banks that prioritize strong employee engagement, a positive corporate culture and plenty of employee support.
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Think your credit union has one of the best workplaces in the country? Here's how to apply for American Banker's ranking of the Best Credit Unions to Work For.
The 23rd annual ranking of women leaders in the banking industry.
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